Your Opportunity as an Quantitative Finance Associate in Sales & Trading

An overview of this program’s objectives and how you can benefit

Your specialist numerical and research skills would be the key to identifying opportunities in the Sales & Trading division. We have opportunities throughout the Sales & Trading division including Equity Derivatives, Quantitative Strategies, Foreign Exchange, Interest Rates, Credit (including Credit Derivatives and Credit Products), Commodities, and Emerging Markets.

Using techniques such as stochastic calculus, the theory of differential equations, statistical optimisation and implementation of numerical analysis, your role would be to analyse complex derivative instruments and trading strategies. 

The Quantitative Finance Associate Programme in Sales & Trading
How the programme works and the day-to-day experience you can expect

After training, you will be assigned to a team under the direct guidance of experienced professionals who are among the best in their fields. They would typically give you as much responsibility as you can handle, in an environment that affords exciting opportunities to work with a wide variety of clients in different industries, helping them to make strategic decisions involving capital raising, research, or trading issues at the highest level.

We are looking for the world's top talent to join our team. Morgan Stanley can provide a solid foundation for building a professional career-a place for people to learn, to achieve, and to grow. A philosophy that balances personal lifestyles, perspectives, and needs is an important part of our culture.
Your role could include:

The initial training that you receive on starting the programme

• Risk analysis of a trading desk's book of derivative trades
•  Development and testing of trading strategies
• Structuring of new products
• Development and implementation of models for valuation and hedging of derivatives traded by Morgan Stanley

Within the different business functions, the following roles exist:

Desk Strategists are key participants, together with traders and sales people, in the revenue-generating activities of our Sales & Trading Division. Desk strategists sit on the trading desk, are the primary modelers for new products, and team with the traders to deliver innovative ideas using models to analyse risks and opportunities in trading books for complex derivatives. Responsibilities include creating models and strategies the desk will use to drive trading decisions, analysing and managing the risk of the positions currently on the books, creating pricing and marking models, and creating trader-efficiency tools.

Quantitative Modellers develop and implement the mathematical models that are at the foundation of the trading strategy, valuation, risk management, trade execution, and corporate finance models. The development of models requires a deep understanding of mathematics and finance and a strong knowledge of market dynamics. Our quantitative modellers perform empirical research utilising large, and often incomplete and asynchronous, financial time series data. This research contributes to the development of derivative valuation models, electronic trading and execution strategies, and company-specific corporate finance models. The firm relies upon the theoretical correctness and computational efficiency of this research and these models for identifying
revenue-generating opportunities and for managing large risk positions.
You will be assigned to a team under the direct guidance of experienced professionals who are among the best in their fields. They will give you as much responsibility as you can handle in an environment that affords exciting participation in a fast-paced financial market place. There will be opportunities to work with a wide variety of clients in different industries and opportunities to work on trading desks in different product areas. Your function may be to help clients make strategic decisions regarding capital raising, research, or investments or to assist traders in using sophisticated models to find value-added trades and to manage the risk in books of complex derivatives.

Launching Your Career

Training includes classroom-based, group, and one-on-one training sessions that familiarise you with the firm’s data resources and analytical tools. Moreover, since you will be working alongside experienced professionals, you will benefit from on-the-job coaching as well.

Training is not limited to the first weeks or months on the job but would be ongoing throughout your career at Morgan Stanley. We are committed to providing our people with the learning and development they need for success in this constantly-changing business. The curriculum typically will cover:

• Market knowledge training
• Product and technical training
• Professional development

Throughout the Quantitative Finance Programme, you would have significant exposure to management through information sessions and other organised events.  You may also benefit from networking opportunities with peers and colleagues.

As part of your integration into Sales & Trading, you will be assigned a mentor who can help ease your transition to the corporate environment. The mentor provides career guidance, serves as a sounding board and helps connect you to the broader Morgan Stanley network.  

Developing Your Career
What you can expect as you progress through and complete the programme

Quantitative Finance Associates work across a range of product and sector desks. You could expect to take on significant responsibility as soon as you start. You may work directly with clients at a senior level, applying your analytical skills and subject-matter expertise in helping them to make strategic decisions involving capital raising, research, or trading issues. 

Is Sales & Trading Right for You?
A checklist to help you decide if you have the skills and temperament for this area

• You have an active interest in the financial markets and how they are influenced by external markets.
• Your analytical and quantitative skills enable you to rapidly assimilate and evaluate complex numerical information.
• You are insightful and creative in the way you test and interpret information.
• Your communication skills enable you to explain complex propositions in a simple and compelling manner.
• You are a team player who puts results ahead of individual recognition.
• You are able to create profitable trading opportunities for both Morgan Stanley and our clients.

Requirements

• Personal and professional integrity.
• You have a PhD/MFE with expertise in Mathematics, Financial Mathematics, Physics, Engineering, Quantitative Finance, or Computer Science.
• You have a strong mathematical academic training.
• You have strong programming skills.
• A keen interest in the financila markets.
• The drive and desire to work in an intense team-oriented environment.

Selection Process
If selected, you will have a series of interviews with both a technical and behavioural focus at our offices in London.

How to Apply
Applications can be submitted from early September 2009 and will be reviewed as they are received so we encourage candidates to apply early.  To submit your application, please apply online via our website.

Deadlines
We accept applications for the Quantitative Finance Associate programme on an ongoing basis.

	Your Opportunity as an Quantitative Finance Summer Associate in Sales & Trading

An overview of this program's objectives and how you can benefit

Your specialist numerical and research skills would be the key to identifying opportunities in the Sales & Trading division. We have opportunities throughout the Sales & Trading division including Equity Derivatives, Quantitative Strategies, Foreign Exchange, Interest Rates, Credit (including Credit Derivatives and Credit Products), Commodities, and Emerging Markets.

Using techniques such as stochastic calculus, the theory of differential equations, statistical optimisation, and implementation of numerical analysis, your role would be to analyse complex derivative instruments and trading strategies.

The Quantitative Finance Summer Associate Programme in Sales & Trading
How the programme works and the day-to-day experience you can expect

The intensive 10 week summer Quantitative Finance Programme is designed to help you explore opportunities in Sales & Trading. You would be assigned to a specific team where you would work closely with accomplished professionals on a series of substantive projects. You would also have the chance to learn about the activities of other teams throughout Sales & Trading.

Throughout the programme, you would typically benefit from individual coaching and continuous feedback, enabling you to maximise your opportunities and make an informed decision about a long-term career with the firm.

Within the different business functions the following roles exist for Quantitative Finance Summer Associates joining the program:

Strategists / QuantitativeModellers     - are key participants, together with traders and sales people, in the revenue generating activities of our Sales and Trading Division.  Strategists sit on the trading desk, are the primary modellers for new products, and team with the traders on delivering innovative trade ideas using models to analyse risks and opportunities in trading books for complex derivatives. Responsibilities include creating models and strategies the desk will use to drive trading decisions, analysing and managing the risk of the positions currently on the books, creating pricing and marking models and creating trader efficiency tools. The Quantitative modellers, utilizing large, and often incomplete and asynchronous financial time series data, perform empirical research on market dynamics.  The firm relies upon the theoretical correctness and computational efficiency of this research and these models for identifying revenue generating opportunities and for managing large risk positions.

Launching Your Career
The initial training that you receive on starting the programme

The 10-week Sales & Trading Quantitative Finance Summer Programme will provide you with a unique insight into life on a trading floor. The programme features:

• Market knowledge training
• Desk placement projects within equity & fixed income products
• Management presentations
• Workshops
• Networking events
• Regular review meetings

After initial training you will be staffed on at least two individual projects and one group project during the internship across both equity and fixed income products.

Throughout the Quantitative Finance Internship Programme, you would have significant exposure to management through information sessions and other organised events.  You may also benefit from networking opportunities with peers and colleagues.

As part of your integration into Sales & Trading, you will be assigned a mentor who can help ease your transition to the corporate environment. The mentor provides career guidance, serves as a sounding board, and helps connect you to the broader Morgan Stanley network.

Successful Quantitative Finance Summer Associates may receive a full-time offer of a role as an Associate at the end of the summer. 

Is Sales & Trading Right for You?
A checklist to help you decide if you have the skills and temperament for this area

• You have an active interest in the financial markets and how they are influenced by external markets.
• Your analytical and quantitative skills enable you to rapidly assimilate and evaluate complex numerical information.
• You are insightful and creative in the way you test and interpret information.
• Your communication skills enable you to explain complex propositions in a simple and compelling manner.
• You are a team player who puts results ahead of individual recognition.
• You are able to create profitable trading opportunities for both Morgan Stanley and our clients.

Requirements

• You are studying for a PhD/MFE with expertise in Mathematics, Financial Mathematics, Physics, Engineering, Quantitative Finance or Computer Science.
• You have a strong mathematical component to your first degree.
• You have strong programming skills.

Selection Process
If selected, you will have a series of interviews with both a technical and behavioural focus at our offices in London. 

How to Apply
Applications can be submitted from early September 2008 and will be reviewed as they are received so we encourage candidates to apply early.  To submit your application, please apply online via our website.

Deadlines

The deadline for the Quantitative Finance Summer programme is January 31, 2009 .